Metal rally lifts Nifty over 24,700, investors eye GST meet

The Indian stock markets closed higher on Wednesday,driven by strength in banking and metal stocks, while investors awaited the GST Council’s decision on potential tax relief.At close, the Sensex was up 409.83 points or 0.51 percent at 80,567.71, and the Nifty was up 135.45 points or 0.55 percent at 24,715.05. About 2,385 shares advanced, 1,356 shares declined, and 123 shares were unchanged.
Tata Steel, Titan, M&M top gainers on BSE sensex;while losers included Infosys.On the sectoral front, Nifty Metal led the gains, climbing over 3 percent, while PSU Bank, Pharma, and Auto indices also advanced more than 0.7-1 percent. FMCG, Energy, Realty, and Infra edged higher with modest upticks. On the other hand, IT was under pressure, slipping nearly 0.8 percent, while Media remained flat, according to information.Broader markets outperform benchmarks; smallcaps lead.
Rupee Close:
On 3 Sep'25,the ended 9 paise  higher to close at 88.07 against the US dollar on Wednesday, outperforming its Asian peers, but stayed above the 88 mark against the dollar, according to information.
Trading Guide:
Vinod Nair, Head of Research, Geojit Investments stated,Indian equities closed higher after a mixed start to the session, buoyed by expectations of a consumption-led stimulus from the potential GST slab rationalization. All categories of consumer-based sectors, like discretionary, durable and staples, continued to outperform. Meanwhile, gold extended its rally in the global market to fresh highs, reflecting investor caution amid persistent concerns over prolonged US tariffs and their potential impact on global growth and geopolitical changes. In the near term, market sentiment hinges on the outcome of the GST Council meeting with traction on consumption-oriented stocks and sectors. Well, the expectations are very high, increasing the risk of disappointments, which can kickstart consolidation again.
Market experts recommended five shares to buy today-Rail Vikas Nigam, Phoenix Mills, One 97 Communications, National Aluminium Co, and Torrent Power.

(Business Correspondent)